By Kiku Steinfeld
Chicago, March 14 – UBS AG, London Branch priced $1 million of phoenix autocallable notes with memory interest due Oct. 3, 2022 linked to Zillow Group, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above the interest barrier level, 58.6% of the initial level, on a quarterly observation date, the notes will pay a contingent coupon for that quarter at an annual rate of 14%, plus any previously unpaid coupons.
The notes will be called at par plus any unpaid coupons if the shares close at or above the initial share price on any quarterly observation date other than the final date.
The payout at maturity will be par plus any unpaid coupons if the stock finishes above at or above the 58.6% trigger level; otherwise, investors will be fully exposed to the decline of the stock
UBS Investment Bank is the agent and J.P. Morgan Securities LLC are the placement agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Phoenix autocallable notes with memory coupon
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| Underlying stock: | Zillow Group, Inc.
|
| Amount: | $1 million
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| Maturity: | Oct. 3, 2022
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| Coupon: | 14% annual rate, plus any previously unpaid coupons, if stock closes at or above interest barrier level on quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus any unpaid coupons if stock finishes at or above trigger level; otherwise, investors will be fully exposed to the decline of the stock
|
| Call: | At par plus any unpaid coupons if stock closes at or above initial level on a quarterly observation date
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| Initial price: | $91.06
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| Interest barrier level: | $53.36; 58.6% of initial price
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| Trigger level: | $53.36; 58.6% of initial price
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| Pricing date: | Sept. 16
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| Settlement date: | Sept. 21
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| Agent: | UBS Investment Bank with J.P. Morgan Securities LLC as placement agents
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| Fees: | 1%
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| Cusip: | 90279DHF6
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